Frontier downgraded to Underperform from Market Perform at Raymond James

Raymond James downgraded Frontier Communications (FYBR) to Underperform from Market Perform without a price target With Frontier shareholders having approved the $38.50 per share offer by Verizon (VZ), Raymond James does not see anything that would block the transaction or delay it beyond the expected timeframe, the analyst tells investors in a research note. As such, it sees little share upside from here and believes there are better opportunities elsewhere in its coverage over the next 12 months.